Tacit Sims progress

Business simulations company Tacit Sims, UK (www.tacitsims.com) has raised equity finance from two investors based in the UK and Australasia: valuing the company at £400k. Tacit Sims has finalised an exclusive agreement with parent company Tacit Fusion to commercialise IPSim® software worldwide. Tacit Sims has been selected by sustainable agriculture specialists - Christof Walter Consulting - to deliver a £5k Innovation Voucher.

Since formation in November 2014 Tacit Sims has finalised an agreement with parent company Tacit Fusion for exclusive rights to develop, protect and commercialise IPSim® software worldwide. IPSim® was originally developed as a table-top simulation by Tacit Fusion. Since November 2014, AiSolve, UK (a leading Gaming and Virtual Reality Edutainment Company) were commissioned to develop IPSim® software – and subsequently became shareholders in Tacit Sims as a result of a strategic product development partnership.

Between November 2014 and February 2015 Tacit Sims secured equity investment from an Australasian angel investor – who played the original IPSim® table-top simulation in Auckland, NZ and saw great potential in the following:

The first product IPSim® is a high quality, expandable, novel and globally scalable product with a short time-to-market

The team: Stephen Olunaike (electronics, coding and management), Wesley Randle (IP, Innovation, e-learning and strategy) and A.i.Solve (world-class Edutainment and games development company)

Tacit Sims’ ability to capitalise on an emerging segment in the Edutainment market

Tacit Sims is based at the Cranfield University Business Incubation Centre (CUBIC) and is looking forward to delivering the IPSim® software to Kickstarter backers in April 2015 and rolling out IPSim® software as workshops from 15th April 2015 where it will be demonstrated at Nottingham University, UK. It will be delivered as a workshop at the University Technical College (UTC) Central Bedfordshire, UK on the 27th April and be available as a downloadable product from 1st May 2015 - subsequently being rolled out at Cranfield University and Imperial College as workshops in Spring/Summer.

More on IPSim

IPSim® is an interactive work tool aimed at engaging those in the innovation space with the bigger picture when it comes to their intellectual property, by simulating the commercialisation of IP and encouraging participants to take risks which can’t other wise be tested in ‘real-life’.

IPSim® ran on Kickstarter from the 8th October 2014 to 16th November 2014. A total of 23 company’s and individuals backed the project from the UK, Nigeria, Netherlands, USA, Malta and New Zealand. These backers ranged from private individuals and business consultants to patent / legal / accounting firms, a plastics manufacture, a leading on-line market place in Nigeria, energy company's, software company's, a PR company, local authorities, a biotech company and a recruitment company!

More on Tacit Sims

Formed by Tacit Fusion to initially develop a software version of IPSim® in November 2014. Tacit Sims designs and develops business software simulations (Edutainment Software) with the first product focusing on intellectual property commercialisation, trading and management. Tacit Sims also delivers end-to-end fee-for-service software development for both private and public sector organisations who wish to deliver educational content using a highly interactive, uncompromisingly fun simulation format that can be used in a classroom or remotely.